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Old 03-22-2020, 07:18 AM
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I don't see what the issue is. Make a withdrawal from your non-equity retirement funds, such as bonds. Surely you don't have all of your retirement account funds in equities?

Quote:
Originally Posted by hollywoodz View Post
Anyone that is over 70&1/2 that has a retirement account must make IRS required withdrawals every year, called RMD (Required Minimum Distribution) on which taxes are paid the following year. With the bloodbath these accounts have taken by the markets plummeting due to the virus (20%+?), and the senate working on a 3rd stimulus package, we need to call Senators Rubio and Scott's offices ASAP to have any such RMDs for this year postponed. Having to make these withdrawals from depleted accounts that a lot (most?) of us count on for daily living is a "double whammy" none of us can afford. This probably affects the majority of Villagers, I imagine. The senate switchboard number is, 202-224-3121. Time is of the essence Villagers!